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Turkish Airlines investment firm to focus on airports - CEO

The newly established company will invest in airport investments and operations

Turkish Airlines CEO and cice chairman Bilal Ekşi

By Bernd Debusmann Jr

Wed 22 Nov 2017 10:27 AM

A new real estate investment firm launched by Turkish Airlines will primarily seek to make investments in airports, according to CEO and cice chairman Bilal Ekşi.

According to a statement released last week on the website of Turkey’s Public Disclosure Platform, the company – THY Airport Real Estate Investment and Operation A.Ş - was founded with a 50,000 Turkish Lira ($13,000) equity.

Speaking to Arabian Business, Ekşi said that the company was established to “make investments in airports”.

“It may be that we can take some share from the airports. That’s our first aim,” he said. “We can do the [airport] operations and so on.

“Mainly we will work in Turkey, but that depends,” he added. “We’ve been getting such proposals from different locations. Since we don’t have such a business within Turkish Airlines, our board established the company to find such opportunities in this area.”

Earlier this month, Turkish Airlines announced record Q3 net profit of $939 million, a 23 percent increase on total revenues compared to the same period in 2016. The airline’s nine-month operating net profit stands at $958 million.